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Effective from Feb 24 2013 - Mar 07 2013 To view other versions open the versions tab on the right
1.
Once the company has completed the establishment requirements and the applicants have provided proof indicating full payment of the capital, and any additional initial funding as set out in the business plan has been provided to the Finance Company and that the company has taken all necessary measures to start carrying out the planned Finance Activities, including the establishment of all necessary personnel, systems, equipment and functions, SAMA will grant the License.
2.
SAMA may take all necessary actions, such as on-site supervision, inspection, meeting their officials and viewing their systems, procedures and records, to verify that the requirements set out in Paragraph 1 of this Article have been met.
